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Verizon Offers $7.5M to Small Business Recovery Fund For Women of Color Entrepreneurs

Black woman entrepreneur

Early in the crisis, Verizon understood that small businesses would need help filling urgent financial gaps until normal operations can resume or until another more permanent financing becomes available.

The company stepped up with a $7.5 million investment in the Local Initiatives Support Corporation (LISC) to launch the Verizon Small Business Recovery Fund, which provides grants of up to $10,000 to small businesses, particularly in historically underserved communities hit hard by the pandemic. Especially entrepreneurs of color, women-owned businesses, and other enterprises that don’t have access to flexible, affordable capital.

Small businesses across the country are confronting extreme economic challenges due to the COVID-19 pandemic. These enterprises are the backbone of local economies, providing essential goods, services, and jobs. Financial support at this critical time can make the difference between staying in business or closing permanently. Thanks to the Verizon Small Business Recovery Fund, small businesses now have a lifeline.

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